Law and Regulation

Naomi Rainey looks at the latest in the fight over DB closures

The insurance industry is capable of cost effectively delivering the Chancellor's ‘retirement advice for all' pledge, but passing the "impartially test" would be challenging, Otto Thoresen has told MPs.

The Department for Work and Pensions (DWP) has limited the retrospective scope of money purchase legislation, following the 2011 Bridge Trustees case.

Almost half of Buzz respondents said letting defined contribution (DC) savers take their pots in cash would undermine plans to introduce collective DC.

Almost half of respondents thought that getting rid of compulsory annuitisation would increase the threat of liberation fraud. Just over a third rejected the idea, however, and many claimed that the move had legalised liberation.

Buzz respondents were split on the question of whether DB members would lose out if they were banned from transferring to DC. Some commentators said DB members would suffer if their options were restricted, while others pointed out that they were still...

There was no consensus on who should foot the bill for the "free face-to-face guidance" that will be provided once compulsory annuitisation is scrapped. The most popular option, however, was for the cost to fall directly on members.

The industry has given a cautious thumbs up to the sweeping changes to the pension system introduced in last month's Budget. Four out of ten Buzz respondents said retirees were likely to benefit from the changes while just under a quarter said savers...

IBM did breach its duty of good faith to members in closing its defined benefit (DB) schemes, the High Court has ruled.

Jack Jones looks at the content of the EC's updated pensions directive.